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Beijing News (Reporter Wang Siyang) On August 13, Da Bei Nong announced that it would issue more than 211 million new shares to specific targets, and it is expected to be listed on August 15. Da Bei Nong raised nearly 700 million yuan through this private placement.

The current private placement will start in 2022. According to the fundraising prospectus updated in July 2024, Da Beinong originally planned to raise 1 billion yuan, of which 544 million yuan will be used to build 5 feed production projects, 78.9413 million yuan will be used to build the Da Beinong (Yutian) Pig Science Experimental Center project, 76.7130 million yuan will be used for information system upgrade and renovation projects, and 300 million yuan will be used to supplement working capital.

On August 13, according to the listing announcement, Da Bei Nong issued more than 211 million new shares to specific objects. It is expected to be listed on the Shenzhen Stock Exchange on August 15 and cannot be transferred within 6 months from the date of listing.After that, the total share capital of Da Bei Nong Company became more than 4.323 billion shares. The issue price was 3.31 yuan per share, and the total amount of funds raised was nearly 700 million yuan. After deducting the issuance expenses, the net amount of funds raised was 693 million yuan.

Da Beinong said that the investment projects of the funds raised from this issuance are carried out around the company's main business, which is an expansion and supplement to the existing business and an important measure for the company to improve its industrial layout. After the funds raised from the issuance are in place, the company's total assets and net assets will increase at the same time, and the asset-liability ratio will decrease. This issuance has enhanced the company's overall financial strength and debt repayment ability, optimized the capital structure, and provided effective guarantee for subsequent development.

Editor: Li Yan

Proofread by Mu Xiangtong